Swiggy has approved the proposal for the sale of 35,958 Series D Compulsorily Convertible Preference Shares (CCPS) held in Roppen Transportation Services Private, popularly known as Rapido, to Setu AIF Trust and/or its affiliates (Westbridge). The Board of Directors has taken this decision at its meeting held on September 23, 2025.
As per statutory filing, the transaction is valued at Rs 431,49,60,000 and will be executed through a Share Purchase Agreement (SPA) with Setu AIF Trust, a Category II Alternative Investment Fund registered with SEBI. The sale is conditional upon customary closing conditions for such transactions and includes standard representations, warranties, and indemnification obligations.
Swiggy has stated that the divestment has been undertaken as a strategic decision to realise its investments for the benefit of the company and its shareholders. The company has clarified that this is not a related party transaction and that it holds no shareholding in Setu AIF Trust or its affiliates.
